Voleon Capital Management LP Acquires New Shares in Caterpillar Inc. $CAT

Key Points

• Voleon Capital Management LP has acquired a new position in Caterpillar Inc. by purchasing 3,685 shares, valued at approximately $1.215 million.
• Caterpillar reported earnings of $4.72 per share for the last quarter, missing estimates by $0.16, while revenue was up compared to consensus expectations.
• The company announced a quarterly dividend increase to $1.51 per share, representing an annualized yield of 1.4% with a 30.72% payout ratio.

Voleon Capital Management LP purchased a new stake in shares of Caterpillar Inc. (NYSE:CAT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,685 shares of the industrial products company's stock, valued at approximately $1,215,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. McIlrath & Eck LLC raised its position in shares of Caterpillar by 3.2% during the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock valued at $349,000 after acquiring an additional 30 shares in the last quarter. Allen Wealth Management LLC increased its position in Caterpillar by 0.8% in the first quarter. Allen Wealth Management LLC now owns 4,010 shares of the industrial products company's stock worth $1,322,000 after buying an additional 30 shares during the period. Warwick Investment Management Inc. increased its position in Caterpillar by 2.6% in the first quarter. Warwick Investment Management Inc. now owns 1,167 shares of the industrial products company's stock worth $385,000 after buying an additional 30 shares during the period. Summit X LLC increased its position in Caterpillar by 3.2% in the first quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock worth $338,000 after buying an additional 32 shares during the period. Finally, Menard Financial Group LLC increased its position in Caterpillar by 1.0% in the first quarter. Menard Financial Group LLC now owns 3,174 shares of the industrial products company's stock worth $1,019,000 after buying an additional 32 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

Shares of CAT stock traded down $0.28 during trading on Friday, reaching $431.10. The company had a trading volume of 2,341,271 shares, compared to its average volume of 2,360,946. The firm's 50 day simple moving average is $420.04 and its two-hundred day simple moving average is $365.49. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a one year low of $267.30 and a one year high of $441.15. The company has a market capitalization of $201.96 billion, a PE ratio of 21.93, a PEG ratio of 2.62 and a beta of 1.41.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). The business had revenue of $16.57 billion during the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business's quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $5.99 earnings per share. Sell-side analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CAT has been the topic of a number of research analyst reports. Jefferies Financial Group reissued a "buy" rating and set a $500.00 price target on shares of Caterpillar in a report on Friday, August 29th. Oppenheimer decreased their target price on Caterpillar from $493.00 to $480.00 and set an "outperform" rating for the company in a research note on Friday, August 29th. Robert W. Baird decreased their price target on Caterpillar from $500.00 to $495.00 and set an "outperform" rating for the company in a research report on Friday, August 29th. Melius Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating and set a $500.00 price target for the company in a research report on Wednesday, July 9th. Finally, Truist Financial increased their price target on Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $457.20.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,168 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total value of $7,088,152.16. Following the transaction, the chairman owned 482,505 shares of the company's stock, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total value of $902,649.70. Following the completion of the transaction, the insider directly owned 8,632 shares in the company, valued at approximately $3,605,586.40. This represents a 20.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,653 shares of company stock worth $8,943,642 over the last three months. Company insiders own 0.33% of the company's stock.

Caterpillar Company Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.